BitMine Immersion Technologies, the Nasdaq-listed Ethereum treasury company, acquired 53,501 ETH over the past week, lifting its total holdings to 5,901,112 ether and bringing its combined crypto, cash and securities position to $15.6 billion, according to a company announcement published August 31, 2026. The purchase extends a buying streak that has now run for 65 consecutive weeks, and it leaves BitMine holding 4.9% of Ethereum’s 120.7 million ETH supply as it closes in on the 5% threshold the company has made a stated goal.
As of August 30 at 3:00 p.m. ET, the company said its holdings consisted of 5,901,112 ETH valued at $2,511 per coin using Coinbase pricing, along with 211 bitcoin, a $180 million stake in Beast Industries, an $81 million stake in Eightco Holdings and $541 million in cash and marketable securities. The $15.6 billion aggregate makes BitMine the largest Ethereum treasury in the world and the second-largest corporate crypto treasury overall, behind only Strategy, which holds 840,447 bitcoin valued at about $66 billion.
Closing In on a 5% Supply Target
The company has framed its accumulation around an initiative it calls the “Alchemy of 5%,” the goal of acquiring 5% of all ETH. BitMine said it has reached 98% of that target in roughly 15 months, a pace that has drawn attention because of the concentration it represents for Ethereum’s circulating supply. The firm was added to the Russell 1000 large-cap index on June 26, 2026, and its Series A preferred stock began trading on the NYSE under the symbol BMNP, developments management has used to argue that institutional investors are treating the ETH treasury as a mainstream public-market vehicle.
Staking Most of the Treasury
Most of the position is now earning yield rather than sitting idle. BitMine reported that 5,067,309 ETH, or about 86% of its holdings, is staked through its institutional-grade platform MAVAN, the Made in America Validator Network, a stake worth roughly $12.7 billion at current prices. The company said its staking operations generated a 7-day yield of 2.63% on an annualized basis and projected annualized staking revenue of about $335 million, rising toward $390 million if the full position is eventually staked through MAVAN and its partners. Those figures are company projections tied to current prices and yields rather than realized results. MAVAN was originally built to support BitMine’s own treasury but is intended to expand to serve outside institutional investors, custodians and ecosystem partners, according to the release. The expansion builds on a staking push that has already carried BitMine’s staking balance past five million ETH.
What the Buying Streak Signals — and What Remains Unsettled
Chairman Thomas Lee attributed the continued accumulation to Ethereum’s relative performance, saying in the release that ETH is the best-performing macro asset so far in the third quarter, outperforming the S&P 500 by 5,430 basis points through last Friday, and that ETH, bitcoin and solana are the top three performing assets since June 30. Lee framed the purchases as a bet that institutions will add crypto exposure late in 2026, citing the CLARITY Act vote scheduled for mid-September and what he described as renewed buying by Korean investors. Those are forward-looking views expressed by the company rather than established market outcomes, and the pattern of weekly purchases has been a recurring story since BitMine stepped up its buying earlier this month.
The update also sharpens the question of how much of Ethereum’s supply a single corporate treasury should control. BitMine’s prior disclosure of a 32,447 ETH purchase crossed the 4.8% supply threshold, and each additional tranche deepens the debate over whether one holder accumulating nearly one in twenty ETH tokens reflects institutional conviction or a centralization risk for the network. The disclosure also reflects a broader pattern in which publicly traded companies have begun treating digital assets as a balance-sheet strategy, with BitMine and Strategy now ranking among the largest holders of their respective networks’ native tokens. The release’s figures reflect prices as of August 30 and will move with the market, and the 5% milestone remains a target rather than an accomplished fact.
